Russian President Vladimir Putin has approved the sale of HSBC's Russian division to Expobank, paving the way for the British bank's complete withdrawal.
Petru Nicolaescu
International
Helen Sessions / Alamy / Alamy / Profimedia
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Putin's decision comes as Moscow has imposed increasingly tough restrictions on foreign asset sales, with banks needing its approval for such deals. But approval does not guarantee the deal will succeed, as was the case with another bank that got presidential approval but failed to complete the transaction.
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